Real estate agents make a good amount of money, given if they play their cards right. An average agent in the first year earns around $65,903 annually in Georgia. That’s around $32/hour!
Plus as you gain more experience, you start earning even more than this!
But there is one thing you need to remember you will really have to put in a lot of effort in the first year. Earnings are relatively low in the beginning when the agent is preparing the groundwork for their career.
The silver lining here is that agents can double their income after the first year. This is because how agents earn is quite different from other industries. For example, agents need to join a broker, who will collect commission on their behalf from clients. The broker keeps a portion of the commission and the agent gets the remaining share. This sharing ratio is called the commission split.
Commission splits get higher for an agent as they gain experience. Hence the split will be lowest for new agents, and highest for the most experienced ones.
Table of Contents
does experience Define Real Estate Agent Salary in Georgia?
1.1 Average Real Estate Agent Salary
An agent in their first year can expect an average annual income of $55,327. When they progress to having 1 to 2 years of experience, this figure rises notably to $82,077.
The growth doesn’t stop there. An agent with a commendable 4 to 10 years of experience can expect to earn approximately $149,034 annually, which is nearly three times what they might have earned at the outset of their career. For those seasoned professionals with 11 to 25 years in the industry, the potential income can reach or surpass $164,637.
Here is a graph that showcases this steady income growth, underlining the value of both experience and networking in the real estate domain
1.2 Average Real Estate Agent Salary in Georgia and How it Grows With Time
The average annual income of an agent in Georgia is directly correlated to the amount of experience they have. So while an agent with 1 to 2 years of experience will earn about $94,855 a year in the state, agents with over 10 years experience will earn an average income of $124,456 a year.
The top 20% agents earn an average annual salary of $85,330. The median income is $46,910 which is the average annual income for 60% or a majority of agents. The bottom 20% agents earn only $22,680 a year.
|Agent’s experience level||Annual income||Hourly income|
In Georgia, the top agents or 90th percentile earn an average annual income of $106,393 as of October 12, 2022. This works out to approximately $8,866 monthly, $2,046 weekly, and $51 hourly.
|Agent’s Earning Level||Annual Salary||Monthly Pay||Weekly Pay||Hourly Wage|
|Top Earners (90th percentile)||$106,393||$8,866||$2,046||$51|
1.4 How does a real estate agent’s salary in Georgia compare to other states?
If one compares the average annual salary of real estate agents in Georgia to the same in other states, Hawaii has the highest annual mean wage. This is 74% higher than Georgia. Maine, on the other hand, pays the lowest to real estate agents. The average annual salary here is 37% below that in Georgia.
The average annual mean wage in Georgia according to the U.S. Bureau of Labor Statistics is $55,190. Further, the highest paying state according to the Bureau is Massachusetts ($90,390), and the lowest paying state happens to be Tennessee ($40,390).
The average annual salary in Georgia is $46,910. The highest paying state for real estate agents here is Massachusetts ($79,310), while the lowest paying state is Tennessee ($30,370).
Further, the average annual salary in Georgia according to ZipRecruiter is $46,252. The highest paying state for agent according to their data is Washington ($70,836) and the lowest paying state is North Carolina ($43,405).
Real estate agent salary in Georgia compare to other states
|Sr No.||State||Salary compared to Georgia as per Indeed||Annual Mean Wage as per U.S. Bureau of Labor Statistics||Average annual salary as per CareerExplorer||Average annual salary as per ZipRecruiter|
1.5 What are the Highest Paying Cities for Real Estate Agents in Georgia?
Here is a list of the highest paying cities for real estate agents in Georgia according to Indeed as on 21 October, 2022. Athens is the best city for real estate agents in terms of earnings since the average annual salary here is $123,564. This works out to $10,297 monthly, $2,376 weekly, and $59 hourly.
|City||Annual Salary||Monthly Pay||Weekly Pay||Hourly Wage|
1.6 Highest paying companies for a real estate agent in Georgia
A real estate agent’s income to a large extent depends on the brokerage they are associated with, and the commission split they receive. Working for top brokerages means drawing top dollar too. Berkshire happens to be the highest paying company in Georgia according to data on Glassdoor. The total pay estimate at Berkshire is $199,773, and this is closely followed by Wynd Realty at $198,507.
Here are the to 20 highest-paying real estate companies in Georgia, according to Glassdoor.
|Sr No||Company Name||Pay (Yearly)|
|3||Berkshire Hathaway HomeServices Georgia Properties||$192,772|
|6||1st Class Real Estate||$191,157|
|8||Better Homes and Gardens Real Estate||$187,336|
|9||Coldwell Banker Realty||$186,068|
|10||Berkshire Hathaway HomeServices||$184,930|
|12||Atlanta Communities Real Estate Brokerage||$180,697|
|14||Mark Spain Real Estate||$177,829|
|16||Platinum Real Estate||$175,575|
|17||Better Homes and Gardens Real Estate||$175,265|
|18||Ruhl & Ruhl Realtors||$174,835|
|19||Heritage GA Realty||$174,394|
1.7 Top Paying jobs related to a Real estate agent in Georgia
According to the U.S. Bureau of Labor Statistics, the top paying job related to real estate in Georgia in May 2021 was that of Real estate brokers. The median annual wages for Real estate brokers in May 2021 was $62,010. This was followed by the median annual wages for Real estate brokers and sales agents at $48,770.
Here the top paying jobs according the U.S. Bureau of Labor Statistics.
|Job Title||Annual Salary||Monthly Pay|
|Real estate brokers||$62,010||$5,168|
|Real estate brokers and sales agents||$48,770||$4,064|
|Real estate sales agents||$48,340||$4,028|
Source: U.S. Bureau of Labor Statistics
Similarly, according to Indeed, Realtors drew the highest average annual salaries in Georgia. This was followed by Real Estate Associates ($85,784) and New Home Sales Consultants ($82,993). (see table below)
|Job Title||Annual Salary||Monthly Pay|
|Real Estate Associates||$85,784||$7,149|
|New Home Sales Consultant||$82,993||$6,916|
|Commercial Real Estate Agent||$71,268||$5,939|
The top job according to Intuit Mint in Georgia is that of a Real Estate Manager who typically draws an average annual salary of $88,000. Here’s a list of top jobs in real estate according to Intuit Mint.
|Job Title||Annual Salary||Monthly Pay|
|Real Estate Manager||$88,500||$7,375|
|Real Estate Broker||$56,500||$4,708|
|Real Estate Assistant||$38,000||$3,167|
2. What factors affect a real estate agent’s income?
A real estate agent’s income depends on their location. The locality, city, and state all play a key role in determining the commission they receive.
Similarly, the brokerage they work for, home prices, the agent’s expenses, their network, etc., all affect the agent’s final income. Let’s look at the top factors affecting a real estate agent’s commission.
2.1 Experience is the key
Data regarding real estate agent’s already proves that the more experienced the agent, the higher their overall income. This is because experienced agents know what kind of deals to take up in order to earn higher commission.
They have a wide network which helps them get more deals from referrals and leads. They can also close deals quickly because they can reach out to more buyers and sellers.
Further, they can take up different kinds of deals such as commercial, residential, rental, etc., and increase their income because they are familiar with all these. Experience makes them more informed about the local market, and they get higher splits from the brokerage they work with.
2.2 Location decides the commission
Where the agent works will play a direct role in deciding their income. For example, if they stay in a city like Athens or Marietta which are the highest paying cities for real estate agents, they are more likely to draw a higher income than other cities.
Home prices in the city will also affect their income. For example, if they deal in $1M homes, their commission will be much higher than if they buy or sell a $200,000 home. While a 6% commission on the former works out to $60,000, the commission on the latter works out to only $12,000.
2.3 State of the economy
How well the economy is doing affects all real estate agent’s incomes. For example, the COVID-19 lockdowns saw agent’s salaries plummeting because of lockdowns, while the subprime lending crisis also drastically affecting their income.
Similarly, if interest rates on mortgages or unemployment rates are high, fewer people may be able to afford home loans, resulting in lower income for agents. If billing material gets cheaper, there will be more construction, and with more people buying homes, agents’ income will increase.
2.4 Brokerage’s support
The brokerage’s reputation will also affect an agent’s income. A good brokerage reputation will result in more clients.
Similarly, if the brokerage passes on more commission to the agents through a better commission split, the agent’s income will increase. Some brokerages offer incentives to agents for performing better, and this will encourage them to close deals an earn more.
Similarly, if the brokerage provides support in terms of office staff and better marketing tools, agents will perform better and earn higher commissions.
2.5 Commitment is all it takes
The agent’s income is directly proportional to the effort they put into their business.
For example, how big is their network, how much knowledge they have about different kinds of deals, how many hours they work, how quickly they learn and become local experts, how quickly they upgrade their skills— all this will decide how much they earn.
An agent who works only four hours a day will draw much less than an agent who works 10 hours a day.
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3. How can a real estate agent double their income?
A real estate agent isn’t paid the way any person would receive a salary. They are not paid a fixed sum at the end of the month.
Rather they receive a percentage of the commission from the homes they help buy and sell. If there is no deal, there is no income.
For new agents, the first year is especially difficult because they have few deals, and they spend most of their time building a network and pursuing leads. In fact most agents quit in the first year because they cannot sustain on their income.
The good news is that those who persevere and manage to tide over the first year, see their income double soon after. There are three important tips agents need to keep in mind if they want to double their income.
3.1 Create a mentor to lower the learning curve
It is no secret that anyone can cut down on the learning curve if they have a guide and mentor who will help them avoid mistakes. Therefore an agent who has a mentor will grow faster than an agent who doesn’t have one and keeps making mistakes. However, it is difficult to find a mentor in the real estate business. So you need to create one.
For example, a new agent may be pretty good with computers and technology. They can offer to teach these skills to a more experienced agent in exchange for learing the tricks of the real estate trade. This would be a win-win situation for both.
3.2 A supportive brokerage will enhance earnings
A supportive brokerage would mean they incentivize the agent to perform better and earn more commission. For example, they will have a favorable commission split—which means the brokerage will keep a smaller portion of the commission and pass on a majority to the agent.
They will also provide support staff, an office area, marketing tools, network access, etc., to agents. Before joining any brokerage, the agent needs to check how the brokerage treats people or different groups. Check whether they have helped and guided new agents well in the past.
3.3 Save up for the first year
As mentioned, an agent needs to sustain themselves in the first year. For this they will need to cover their personal expenses and their professional commitments. For example, besides the food and rent expenses on the personal level, agents will have to make arrangements for roughly $1,500 to $7,000 during the first year.
This will include the pre-license course fees ($300 approx.), the brokerage fees ($25-$500 monthly), and marketing and promotional costs to develop leads. The more money you have, the longer you will survive until you begin making money from your network.
The unique commission-based structure of Georgia’s real estate, offers agents a clear pathway to substantial income growth. Experience and networking play a pivotal role in determining real estate agent salary in Georgia! Starting with modest beginnings in their first year, agents have the potential to triple their income or more as they establish themselves in the Georgia real estate market.